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NEWS: Taiwan indicts 62 over suspected scam centre operator Prince Group

Premium March 4, 2026

Luxury cars are on display, as Taiwan auctions off luxury cars linked to the Cambodian scam centre Prince Group, in Taipei, Taiwan. REUTERS/Ann Wang

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NEWS: FIU Netherlands will gain power to suspend transactions from July 2026

NEWS: Irish Central Bank director Patricia Dunne to speak at ‘European Anti-Financial Crime Summit 2026’ 

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LATEST: US builds money laundering case against new Venezuela leader Delcy Rodriguez

By Ben Blanchard

TAIPEI prosecutors indicted 62 people linked to the Prince Group, a multinational network accused of running a vast network of scam centres, ​including the company’s chairman who was arrested and deported to China from Cambodia earlier this year.

Chen ‌Zhi, who founded the conglomerate the U.S. alleges is a front for a multibillion-dollar online fraud and money laundering operation, was pictured by Chinese state media hooded and handcuffed as he was led off ​a plane at a Beijing airport in January.

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Premium

NEWS: FIU Netherlands will gain power to suspend transactions from July 2026

NEWS: Irish Central Bank director Patricia Dunne to speak at ‘European Anti-Financial Crime Summit 2026’ 

 Premium

LATEST: US builds money laundering case against new Venezuela leader Delcy Rodriguez

Regulatory Watch News

  • Targeted report on Stablecoins and Unhosted Wallets – Peer-to-Peer Transactions

    FATF

    A new report from the Financial Action Task Force (FATF) highlights illicit finance risks linked to criminals' misuse of stablecoins, particularly through peer-to-peer (P2P) transactions via unhosted wallets, and sets out recommended actions for countries and the private sector to strengthen controls to protect the integrity of the financial system. The FATF's Targeted Report on Stablecoins and Unhosted Wallets, highlights that stablecoins have expanded rapidly, with over 250 in circulation by mid-2025 and a market capitalisation exceeding USD 300 billion. Chainalysis has indicated that stablecoins accounted for 84 percent of illicit virtual asset transaction volume in 2025, often involving unhosted wallets and complex laundering techniques designed to obscure fund origins.

  • Banking industry introduces further measures to assist affected individuals of Tai Po fire

    HKMA

    The Hong Kong Monetary Authority (HKMA) and The Hong Kong Association of Banks (HKAB) held a meeting to explore further measures by the banking industry in support of the long-term housing arrangements for Wang Fuk Court (WFC) in Tai Po announced by the Hong Kong Special Administrative Region Government.  The banking industry introduced today (4 March) additional measures to continue assisting the affected residents in an empathetic and flexible manner.

  • Treasury Sanctions Rwanda Officials, Condemns Blatant Violations of Washington Peace Accords

    OFAC

    WASHINGTON—Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) imposed sanctions on the Rwanda Defence Force (RDF)—the military of Rwanda—and four of its senior officials.  The RDF is actively supporting, training, and fighting alongside the March 23 Movement (M23), a U.S.- and United Nations (UN)-sanctioned armed group responsible for human rights abuses and a mass displacement crisis in the Democratic Republic of the Congo (DRC).  The RDF has supported M23 as it seized territory in eastern DRC, including provincial capitals Goma and Bukavu, along with strategic mining sites in eastern DRC. M23’s offensives would not have been possible without the active support and complicity of the RDF and key senior officials.

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